Protests broke out across Israel in fresh fury on Monday over the government’s failure to secure a ceasefire-for-hostages deal with Hamas, per CNN. The move is fuelled by the killing in Gaza of six hostages, whose bodies were retrieved by Israeli soldiers this weekend.
China's Caixin Manufacturing PMI climbed to 50.4 in August from 49.8 in July, above the market consensus of 50.0.
The US ISM Manufacturing PMI for August is expected to improve to 47.5 in August from 46.8 in July, while the Services PMI is estimated to drop to 51.1 in August versus 51.4 prior.
The US economy is expected to see 163K job additions in August. The Unemployment Rate is expected to tick lower to 4.2%.
The markets are now pricing in a nearly 69% possibility of 25 basis points (bps) rate cut by the Fed in September, while the chance of a 50 bps reduction are standing at 31%, according to the CME FedWatch tool.
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